- Full yr 2023 professionaldisc® Complete Disc Alternative (TDR) income of practically $70 million in gross sales, representing report progress of 55% over prior yr.
- Full-year 2023 professionaldisc TDR gross sales broke data by geography and by product phase—with U.S. prodisc gross sales rising 60% and Worldwide gross sales rising 38% YOY, along with world cervical professionaldisc gross sales progress of 69% and lumbar progress of 36% YOY.
- Cervical professionaldisc TDR progress in 2023 continued to be pushed by the launch of the brand new Match-the-Disc™ professionaldisc C Vivo and professionaldisc C SK cervical TDR system, with an virtually 90% enhance within the U.S. over prior yr.
- Sturdy world income progress and operational efficiency within the fourth quarter 2023 resulted in Centinel Backbone’s third consecutive adjusted EBITDA-positive quarter*.
WEST CHESTER, Pa., Jan. 31, 2024 /PRNewswire/ — Centinel Backbone®, LLC, (“the Firm”) the main world medical machine firm centered solely on treating cervical and lumbar spinal illness with probably the most full and clinically-proven complete disc substitute (TDR) know-how platform on the planet (professionaldisc®), at this time introduced achievement of report full-year 2023 TDR enterprise outcomes, setting the stage for continued accelerated progress in 2024.
Primarily based on publicly obtainable data, Centinel Backbone is the quickest rising firm within the spine trade, centered on the quickest rising phase in orthopedic implants: complete disc substitute. The Firm can be uniquely positioned from a profitability perspective, attaining its third consecutive adjusted EBITDA optimistic quarter in This autumn 2023*.
Full-Yr 2023 Highlights
- Document worldwide professionaldisc TDR income of practically $70 million, representing 55% progress over full-year 2022.
- Document worldwide professionaldisc Cervical income of practically $43 million—with year-over-year (YOY) progress of 69%—and professionaldisc Lumbar income of practically $27 million, up 36% YOY.
- Document U.S. professionaldisc TDR income over $54 million, representing 60% YOY progress.
- Document U.S. professionaldisc complete surgeon user-base of practically 800 surgeons, representing 44% YOY progress.
- Document of practically 350 new professionaldisc customers within the U.S., representing an virtually 70% enhance YOY.
- U.S. healthcare services using professionaldisc approached 800, a 38% YOY enhance, with gross sales in ASC/outpatient services rising 56% YOY.
- Document Worldwide professionaldisc TDR income of practically $15 million, representing progress of 38% YOY.
Highlights on the New Match-the-Disc™ professionaldisc Cervical TDR System
- Absolutely launched the Match-the-Disc Cervical system of professionaldisc C Vivo and professionaldisc C SK, which was launched on a restricted foundation in Q3 2022.
- Almost 3,700 procedures had been accomplished with the brand new system by means of the top of 2023.
- The brand new system drove a virtually 90% YOY enhance in full-year U.S. professionaldisc Cervical income.
- Added a median of practically 100 new surgeons utilizing the Match-the-Disc system per quarter in 2023, rising the whole variety of system customers to 480.
- Sturdy majority of surgeon customers got here from aggressive conversions and stay repeat customers.
Key 2023 Highlights Setting the Basis for 2024 Development
- Accomplished the divestment of the fusion enterprise in This autumn 2023, permitting the Firm to solely concentrate on its quickly increasing professionaldisc Cervical and Lumbar world TDR enterprise.
- In Q2 2023, achieved the primary adjusted EBITDA-positive quarter because the December 2017 professionaldisc acquisition—and remained EBITDA optimistic in Q3 and This autumn 2023*.
- Reached a big milestone of greater than 250,000 professionaldisc units implanted worldwide**, validated throughout 30 years of medical use and a reported reoperation price of lower than 1%***.
- Expanded the industrial launch of the brand new professionaldisc C Vivo and professionaldisc C SK applied sciences launched in late 2022, uniquely positioning Centinel Backbone as the one firm on the planet with a system of a number of cervical TDR options that permits matching the disc to the preferences of the surgeon and to the affected person’s anatomy.
- Superior first-of-its-kind 2-level IDE trial evaluating professionaldisc C Vivo and professionaldisc C SK Match-the-Disc™ cervical TDR system:
- Accomplished research enrollment in June 2023.
- Food and Drug Administration (FDA) accepted the submitting of Premarket Approval (PMA) research utility in September 2023.
- Affected person entry to the professionaldiscL Lumbar Complete Disc Alternative system considerably expanded—with one-level protection now practically 95% and two-level protection over 30%:
- New Class I Present Procedural Terminology (CPT®) code added for a second stage of lumbar TDR.
- 22 million coated lives added by means of Aetna® medical necessity guideline replace to incorporate a optimistic protection coverage advice for one-level lumbar TDR.
- Over 20 million coated lives added by means of optimistic coverage updates within the states of Illinois, Michigan, New Mexico, North Carolina, Oklahoma and Texas.
- Continued enlargement of professionaldisc L Lumbar surgeon utilization by means of adoption of Match-the-Disc Anatomic Endplates, a lumbar TDR system that uniquely permits surgeons to raised match affected person anatomy at one- or two-levels.
- Skilled over 800 surgeons by means of the Firm’s world Medical Schooling program.
- Expanded and strengthened long-term manufacturing provide chain partnerships.
Centinel Backbone CEO Steve Murray provides, “The Centinel crew reached many main milestones and accomplishments in 2023, setting the corporate up for continued success and growth-acceleration in 2024. With the divestiture of the fusion enterprise, we’re solely centered on main the quickly increasing complete disc substitute market—as we respect the surgeon response and assist of our full dedication to the whole disc substitute medical house.”
Murray continues, “Our superior know-how platform together with the important thing foundational parts established this previous yr uniquely place us out there. The efficiency ends in 2023 communicate for themselves and, as a corporation, we consider that we’re simply getting began.”
* This autumn 2023 adjusted EBITDA relies on unaudited financials, adjusting for one-time prices associated to the fusion divestiture.
** Information on file.
*** Primarily based upon U.S. grievance dealing with items for professionaldisc since launch in 2006.
About Centinel Backbone, LLC
Centinel Backbone®, LLC is the main world medical machine firm solely centered on addressing cervical and lumbar spinal illness with professionaldisc®, probably the most full complete disc substitute (TDR) know-how platform on the planet.
The Firm’s professionaldisc know-how is probably the most studied and clinically-proven TDR system throughout the globe, validated by over 540 printed papers and greater than 250,000 implantations. Centinel Backbone’s professionaldisc is the one TDR know-how with a number of motion-preserving anatomic options permitting the surgeon to Match-the-Disc™ to every affected person’s anatomy for each cervical and lumbar complete disc substitute.
For extra data, please go to the corporate’s web site at www.CentinelSpine.com or contact:
Varun Gandhi
Chief Monetary Officer
900 Airport Highway, Suite 3B
West Chester, PA 19380
Telephone: 484-887-8871
E mail: v.gandhi@centinelspine.com
SOURCE Centinel Backbone, LLC
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